Have you ever been asked for your value proposition or your elevator pitch? Were you able to answer on the spot or were you caught off guard?
If you were taken aback, you are not alone. I have consulted for businesses across North and South America and it’s a common reaction. I think many entrepreneurs are so focused on making sure they provide value to their customers that they forget how to communicate that value.
A value proposition is a promise of value to be delivered. It’s the primary reason a prospect should buy from you. It is a clear statement that addresses three elements:
Relevancy: explains how your product solves customers’ problems or improves their situation
Quantified Value: outlines what specific benefits customers can expect
Unique Differentiation: tells the ideal customer why they should buy from you and not from the competition
Not to be mistaken with a slogan or a positioning statement, a value proposition should be adapted for different target markets and optimized for different platforms.
Have a Facebook account? How is your value being expressed?
Did you hand out a business card last week? How does it summarize the value your company provides to your customers?
In order to effectively leverage the power of a value proposition, you need to:
Identify your value proposition
Express your value proposition
In November 2018, I hosted a Webinar for a group of entrepreneurs looking to expand their businesses by participating in an international trade mission. These were small and medium-sized businesses whose owners were wearing multiple hats and were constantly on the go. To support these business owners in their effort to grow their businesses, I put together a Value Proposition guide.
This simple 3-step guide will walk you through the process of writing your value proposition and communicating it both in-person and online. Did you know that your value proposition is one the most important conversion factors on your website? And that it should be optimized for different target markets?
In case you’re wondering why all of this matters, closing more deals and converting more customers means you’ll be a more profitable company! And for me, personally, that’s always top of my mind.
If you’re feeling less than prepared at delivering your value proposition, then this guide is for you!
Click here to download the guide!